APM PFQ Exam Test Bank (Latest 2026/2027)
Complete Questions and 100% Correct
Answers (Guaranteed Pass)
• key differences between projects and program management -✓✓-project has fixed
duration, program has undetermined duration
-project has pre-defined objectives, program has negotiated objectives
-project is task oriented, program is goal oriented
-project has a lifecycle, program has extended lifecycle
-proj manager is overseer, prog manager is creative thinker
-proj has a single objective, program has multiple related objectives
• outline the relationship between programs, projects and strategic change -✓✓program
is aligned to overall strategy, benefits from projects integrated during life of the program,
there may be inter-project dependencies, delivers outcomes
• what is a program -✓✓a group of projects with related business objectives/benefits;
aligned to an overall strategy
• benefits of program management -✓✓-focuses on strategic objectives (a vision drives
the program. each project brings us closer)
-focuses on change mgt: embeds delivered products into business to achieve
outcomes/benefits
-ensures optimal project scheduling (minimize delays, maximize efficiency)/inter-project
dependencies
-benefits from economies of scale by allocating resources efficiently
-risk and change handled at strategic level
-easily justify infrastructure projects as they rarely present benefits on their own. only
within a program is their purpose clear and justified
• typical roles of a program manager -✓✓-planning and controlling
-managing project interfaces
-defines governance
-manages budget
-manages resources
-manages communications, risks, issues
• what is portfolio management and how is it different from project/program
management -✓✓analysis of projects and programs related to strategic objectives.
-it balances change initiatives with maintaining BAU (outputs embedded into BAU such
that benefits are realized)
-highest priority projects and programs selected for implementation
-needs to be adjusted in line with current circumstances (resources, ability to accept
change)
,• when to use portfolio management -✓✓-used at organizational level to ensure that
changes necessary to achieve strategic objectives are coordinated/managed in a
sustainable manner
-used at departmental level to prioritize dept workload over the next business cycle.
• Linear Lifecycle Phases -✓✓1. Concept: requirements gathered, business case
established, context, feasibility study
2. Definition: requirements defined, PMP developed, business case refined, deployment
baseline created
3. Deployment: products tested, PMP executed/monitored/controlled, work assigned,
4. Transition: acceptance testing against reqt, post project review, lessons learned,
deliverables handed over to sponsor and users
• Extended Lifecycle -✓✓-Adoption: establish project outcomes, users start to use
outputs
-Benefits realization: realize benefits, benefits reviews
-Ops: ongoing product support, might consider upgrades
-Termination: decommission product, review overall success
**A,B,O phases run in parallel
• Iterative Life Cycle definition -✓✓-time and cost defined at start
-requirements put into product backlog
-work is done in fixed timeboxes
-for each timebox, a group of outputs taken from the product backlog and specified,
designed, built, tested and handed over at end
-uncompleted work put back on product backlog and re-prioritized (e.g., using
MOSCOW)
• iterative life cycle phases -✓✓1. pre-project: ensures right proejcts are started and are
strategic fit
2. feasibility (technically and cost effective)
3. foundations: understand business rationale, potential solutions, devt and delivery
mgt, understand work scope
4. evolutionary devt: iterative devt, use timeboxes, continuous testing, MOSCOW
5. deployment: baseline of evolving solution is brought into operation, may be subset or
final solution
6. post-project: check
• iterative life cycle principles -✓✓-be on time and costs: builds customer confidence,
allows early benefits realization
-keep development team stable during the timeboxes. if necessary, only change team
between timeboxes
-protect level of quality: must be maintained for acceptance, keep operational costs as
expected
, -embrace change: can be added during timebox and product backlog to improve final
output
-accept that the customer does not need everything (focus on MUST haves as priority)
• Benefits of phased approach -✓✓-facilitates rolling wave planning (more accurate,
more achievable)
-ensures next phase of work is understood
-better estimations (shorter durations)
-early identification of resources and improved resource utilization
-limits risk: can be identified in short term and mitigated
-more efficient cashflow (funds allocated in chunks)
-early phase success reinforces stakeholder commitment
-lessons learned can be applied to future phases
• explain why projects may close early -✓✓-business case becomes invalid (e.g.,
investment no longer justified)
-major issue occurs that costs too much to resolve
-external/internal enviroment changes (pandemics, consumer attitudes)
-funds withdrawn
-staff withdrawn
-benefits devalued
• what is situational context -✓✓the environment within which a project is undertaken
• PESTLE analysis benefits -✓✓identifies
-stakeholders
-risks
-issues, constraints and dependencies
-assumptions
-areas of scope
• VUCA Analysis -✓✓Volatility: speed of change in industry/market/world
Uncertainty: how well future can be predicted
Complexity: number of factors to take into account
Ambiguity: lack of clarity on how to interpret something
• SWOT analysis -✓✓-S, W are internal (e.g., cashflow)
-O, T are external (e.g, demographic change in market, low market growth)
-need a good balance. too much focus on internal, will lead to little to no change. too
much focus on external will lead to radical change
• what are decision gates? explain their benefits -✓✓undertaken at end of each
phase/stage.
-gives the sponsor and gov board opportunity to confirm (or deny) continued project
investment
Complete Questions and 100% Correct
Answers (Guaranteed Pass)
• key differences between projects and program management -✓✓-project has fixed
duration, program has undetermined duration
-project has pre-defined objectives, program has negotiated objectives
-project is task oriented, program is goal oriented
-project has a lifecycle, program has extended lifecycle
-proj manager is overseer, prog manager is creative thinker
-proj has a single objective, program has multiple related objectives
• outline the relationship between programs, projects and strategic change -✓✓program
is aligned to overall strategy, benefits from projects integrated during life of the program,
there may be inter-project dependencies, delivers outcomes
• what is a program -✓✓a group of projects with related business objectives/benefits;
aligned to an overall strategy
• benefits of program management -✓✓-focuses on strategic objectives (a vision drives
the program. each project brings us closer)
-focuses on change mgt: embeds delivered products into business to achieve
outcomes/benefits
-ensures optimal project scheduling (minimize delays, maximize efficiency)/inter-project
dependencies
-benefits from economies of scale by allocating resources efficiently
-risk and change handled at strategic level
-easily justify infrastructure projects as they rarely present benefits on their own. only
within a program is their purpose clear and justified
• typical roles of a program manager -✓✓-planning and controlling
-managing project interfaces
-defines governance
-manages budget
-manages resources
-manages communications, risks, issues
• what is portfolio management and how is it different from project/program
management -✓✓analysis of projects and programs related to strategic objectives.
-it balances change initiatives with maintaining BAU (outputs embedded into BAU such
that benefits are realized)
-highest priority projects and programs selected for implementation
-needs to be adjusted in line with current circumstances (resources, ability to accept
change)
,• when to use portfolio management -✓✓-used at organizational level to ensure that
changes necessary to achieve strategic objectives are coordinated/managed in a
sustainable manner
-used at departmental level to prioritize dept workload over the next business cycle.
• Linear Lifecycle Phases -✓✓1. Concept: requirements gathered, business case
established, context, feasibility study
2. Definition: requirements defined, PMP developed, business case refined, deployment
baseline created
3. Deployment: products tested, PMP executed/monitored/controlled, work assigned,
4. Transition: acceptance testing against reqt, post project review, lessons learned,
deliverables handed over to sponsor and users
• Extended Lifecycle -✓✓-Adoption: establish project outcomes, users start to use
outputs
-Benefits realization: realize benefits, benefits reviews
-Ops: ongoing product support, might consider upgrades
-Termination: decommission product, review overall success
**A,B,O phases run in parallel
• Iterative Life Cycle definition -✓✓-time and cost defined at start
-requirements put into product backlog
-work is done in fixed timeboxes
-for each timebox, a group of outputs taken from the product backlog and specified,
designed, built, tested and handed over at end
-uncompleted work put back on product backlog and re-prioritized (e.g., using
MOSCOW)
• iterative life cycle phases -✓✓1. pre-project: ensures right proejcts are started and are
strategic fit
2. feasibility (technically and cost effective)
3. foundations: understand business rationale, potential solutions, devt and delivery
mgt, understand work scope
4. evolutionary devt: iterative devt, use timeboxes, continuous testing, MOSCOW
5. deployment: baseline of evolving solution is brought into operation, may be subset or
final solution
6. post-project: check
• iterative life cycle principles -✓✓-be on time and costs: builds customer confidence,
allows early benefits realization
-keep development team stable during the timeboxes. if necessary, only change team
between timeboxes
-protect level of quality: must be maintained for acceptance, keep operational costs as
expected
, -embrace change: can be added during timebox and product backlog to improve final
output
-accept that the customer does not need everything (focus on MUST haves as priority)
• Benefits of phased approach -✓✓-facilitates rolling wave planning (more accurate,
more achievable)
-ensures next phase of work is understood
-better estimations (shorter durations)
-early identification of resources and improved resource utilization
-limits risk: can be identified in short term and mitigated
-more efficient cashflow (funds allocated in chunks)
-early phase success reinforces stakeholder commitment
-lessons learned can be applied to future phases
• explain why projects may close early -✓✓-business case becomes invalid (e.g.,
investment no longer justified)
-major issue occurs that costs too much to resolve
-external/internal enviroment changes (pandemics, consumer attitudes)
-funds withdrawn
-staff withdrawn
-benefits devalued
• what is situational context -✓✓the environment within which a project is undertaken
• PESTLE analysis benefits -✓✓identifies
-stakeholders
-risks
-issues, constraints and dependencies
-assumptions
-areas of scope
• VUCA Analysis -✓✓Volatility: speed of change in industry/market/world
Uncertainty: how well future can be predicted
Complexity: number of factors to take into account
Ambiguity: lack of clarity on how to interpret something
• SWOT analysis -✓✓-S, W are internal (e.g., cashflow)
-O, T are external (e.g, demographic change in market, low market growth)
-need a good balance. too much focus on internal, will lead to little to no change. too
much focus on external will lead to radical change
• what are decision gates? explain their benefits -✓✓undertaken at end of each
phase/stage.
-gives the sponsor and gov board opportunity to confirm (or deny) continued project
investment
